Swiss insurer now largest foreign owned general insurer
Zurich Financial Services Group has bought the last 34% of Russian firm OOO NASTA Insurance Company (NASTA), which was renamed Zurich Retail Insurance at the end of 2007, for $205m.
All necessary regulatory approvals to close the transaction have been obtained.
Zurich bought a 66% majority stake in NASTA in February 2007 with an agreed path to 100% ownership by 2010. Zurich Retail Insurance is now the largest foreign controlled general insurer exclusively operating under an international brand in the Russian market.
